focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
I made a comment to this effect as soon as I read that BE would become a standalone. There is certainly quite a bit of detail to be worked out, maybe they have already done most of it if not all. The sooner the better as far as I am concerned, if it is delayed the market will act negatively. I am expecting the company to respond to yesterday‘s statement probably within the next month. Possibly just some sort of roadmap for how they see the spin-off timescales working.
The brokers have used a V price of $35/$38 in their earlier modelling for this year. Anything above that is 100% profits so the next brokers notes should be interesting. I assume these will be out once we have the H2 numbers
It’s worth noting that SPAngel used a target price for Vanadium of around $38 per kilo on their last analysis report in February. ARC used a figure of $35. I look forward to the revised reports based on the first half performance, they may increase their guidance for the price expectation of vanadium. The company confirming they are achieving a far higher rate, we just need them to confirm the actual sales figures.
And how do you know that? All BMN shareholders were given ATM shares. The electrolyte plant is under BMN , at present zero value has been applied to BE by the brokers as its not generating revenue, and unlikely to do for some time.
At some point BE will be spun out and I expect BMN shareholders to be allocated shares in the new BE, possibly being able to purchase additional shares at a preferential rate. A line will have to be drawn regarding qualification, and there will be a lot of detail to thrash out, but BE has been a drain on the overall company. I think this was the plan all along, indeed it has been speculated previously on here, but the expectation was probably that BE would be a more mature company by now but things like Covid have pushed things back. The devil may well be in the detail, but I would expect things to move fairly quickly (by BMN standards). Now you know what the new broker will be ding.
I am going to re-read the Orion terms of reference. You are correct that the price was around 17p, and I believe the date of September 2023 was mentioned. I cannot believe Orion will have left themselves open on this. There is usually some clause to mitigate for the share price not being achieved.
We are awaiting confirmation of costs reducing. The year end financials should give the full picture for last yaar including the extras (admin and sundry costs) which can bump up the costs per kg by $7 to $8. We are still waiting the status of kiln3 , but we do know that parts of the operational costs will increase based on the recent wage agreement.
Of course the list of failures is not endless, but its certainly not a short list ( is this a negative I’m posting?). In respect of the minigrid that has not been updated for several years , some impact of Covid on it, but as I posted earlier the company needs a consolidated key milestone chart showing progress on key projects , milestones , including stagnation and slippage , as an easy to read guide. At present some information is scattered about various RNS and presentations, making any assessments difficult.
On a slightly different topic the main market listing has again been mentioned here recently. I have always doubted this is FMs intention, it would mean far more regulatory compliance and accountability by the BOD. Not to mention additional expense .
Pdub. The definition of what constitutes a positive or negative post is surely subjective? The comments Daisydog makes about Eskom dependency for example is perfectly valid , and I would go back to MNs rather infamous quote that he had been speaking to hundreds of companies several years ago.
I emailed them some time ago asking how much it was costing to have Lemur which will be attracting some costs to the company. No reply. Well we have people working on it but no idea what they do. The company website not been updated since 2017 on this.
The company need to issue an up to date roadmap with dates for key milestones. For the last few years these are fragmented in operational updates with no clear sight of when, or if, they are being achieved. Recent example kiln3 which in May company announced should be live in May (which itself was on the back of previous slippages).
When buyers return and the sellers stop? At the moment we just have our daily large seller(s) with no one mopping up, still suspect some of these may be AV. Absolutely no buying pressure. If you look back to the director/ management sells in February of last year at 16/17p the sp has not reached those dizzy heights since.
I may be misreading what you have put down. In the contentious part you seem to be making an assumption that the money from selling shares goes to the company?? It certainly doesn’t. Sorry if I’ve misinterpreted the meaning.